What You Should Know About Real Estate Agents and Realtors®
There are countless real estate agents in Phoenix, AZ, but far fewer Certified Realtors®. Hiring the right one can drastically impact how smooth, enjoyable and successful your real estate experience will be. Furthermore, there are even fewer that will work as hard for you and provide as exceptional of an experience as Claudia.
"Claudia Lockwood is amazing. My husband and I sold our home in the Phoenix area. Claudia’s professional expertise and guidance, her attention to detail and the quality of services gave us the confidence that we were in the best hands possible. She responded quickly to concerns and kept in touch through out the process. We would highly recommend Claudia and would contact her first for our home buying/selling needs."
Scroll down to learn more about the difference between real estate agents and Certified Realtors.
Real Estate Agents vs. Realtors - What's the Difference?
"Being a Realtor involves a commitment to a higher ethical standard, including adherence to a strict Code of Ethics, which can result in a more positive and service-oriented experience for clients compared to regular real estate agents. When you partner with a Realtor, you partner with a true real estate professional."
As your dedicated Realtor in Phoenix, I understand the importance of clarifying the distinctions between a real estate agent and a Realtor. In the dynamic world of real estate, these terms are often used interchangeably, causing confusion. Here’s the difference:
- A real estate agent undergoes standard licensing requirements, including coursework and background checks. Not all real estate agents in Arizona are certified Realtors.
- On the other hand, a Realtor, which is a category I proudly fall into, goes above and beyond. By being a member of the National Association of Realtors (NAR), I adhere to a stringent code of ethics at national, state, and local levels. This commitment ensures that, whether you’re buying or selling a property, you’re partnering with a professional held to the highest standards of integrity.
If you’re considering buying or selling a house in the vibrant Phoenix area, having a clear understanding of these differences will equip you to make an informed and reliable choice for your real estate journey, ensuring a smooth and successful experience.
Certified Realtor Code of Ethics
The actual Code of Ethics is over 8,000 words long… We’ll save you the exhaustion and provide a summary of what each of the 17 articles entails:
- Advocate for clients’ interests, prioritizing them over personal gains and maintaining honesty with all involved parties.
- Refrain from exaggerating, misrepresenting, or withholding facts related to the property or transaction within the confines of their real estate license.
- Collaborate with other brokers when such collaboration benefits the client’s best interests.
- Disclose to the client any involvement with other members of the client’s family in real estate transactions.
- Avoid providing professional services related to a property where a personal interest exists unless disclosed to the client.
- Obtain client consent before accepting any payment or commission and ensure transparency in financial dealings.
- Disclose to all involved parties and seek client consent when receiving payments from multiple transaction participants.
- Maintain clear separation between personal funds and clients’ funds to uphold financial integrity.
- Ensure transparent communication of agreements among all transaction parties, providing copies to each involved party.
- Prohibit discrimination based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.
- Adhere to standards of practice within their real estate discipline, avoiding services for which they lack qualifications.
- Uphold truthfulness in advertising and marketing materials to maintain transparency with clients and stakeholders.
- Avoid practicing law without proper authorization, respecting legal boundaries in their professional scope.
- Present all evidence and cooperate when facing charges related to unethical practices in the real estate profession.
- Refrain from making false or misleading statements about other real estate professionals, ensuring professional integrity.
- Avoid interference in contractual relationships of fellow realtors to maintain professional boundaries.
- Resolve disputes with other realtors through arbitration, opting for a collaborative approach instead of litigation.
Why use a Certified Realtor?
A Certified Realtor can provide valuable expertise and timely support when buying or selling a home, making the process smoother, far less stressful and much more successful.
Access to Information
A realtor has access to a wealth of information about the local real estate market, including data on recent sales, pricing trends, and neighborhood statistics. This information can be very valuable in helping you make informed decisions when buying or selling a home.
Expert Negotiation
Realtors are experienced in negotiating deals on behalf of their clients. They can help you get the best possible price for your home, or negotiate a fair price when buying a home.
Time Saving
Buying or selling a home can be a time-consuming process, especially if you are doing it on your own. A realtor can take care of many of the details for you, including scheduling showings,preparing contracts, and coordinating inspections.
Marketing
When selling a home, a realtor can help you market your property to potential buyers. They can list your home on the MLS (Multiple Listing Service), as well as on other websites and social media platforms. This can help you reach a wider audience of potential buyers.
Legal Protection
Real estate transactions can be complex, and there are many legal requirements that must be met. A realtor can help ensure that all of the necessary paperwork is completed correctly and that you are protected throughout the buying or selling process.
Frequently Asked Questions
Can You Sell a Home by Yourself without Real Estate Agents?
While it is legally possible to sell a home without the assistance of a real estate agent, commonly referred to as “For Sale By Owner” (FSBO), it is generally not advised for several reasons.
- Limited Exposure:
Real estate agents have access to multiple listing services (MLS) and extensive networks, providing broad exposure for your property. FSBO sellers might struggle to reach a wide audience, potentially resulting in a prolonged sale process. - Pricing Challenges:
Determining the right listing price is crucial, and real estate agents have the expertise to conduct thorough market analyses. FSBO sellers might lack the resources and experience needed to accurately assess the market and set a competitive price. - Complex Legalities:
Real estate transactions involve intricate legal processes and documentation. Real estate agents are well-versed in these complexities, ensuring that all legal requirements are met. FSBO sellers may find themselves navigating unfamiliar legal terrain, increasing the risk of errors or oversights. - Negotiation Expertise:
Experienced real estate agents excel in negotiation, securing the best possible deal for their clients. FSBO sellers may lack the negotiation skills needed to navigate offers effectively, potentially leading to suboptimal outcomes. - Emotional Attachment:
Selling a home can be an emotional process. Real estate agents offer an objective perspective, helping sellers detach emotionally and make decisions based on market realities. FSBO sellers may find it challenging to separate emotions from the transaction. - Time and Energy Commitment:
Selling a home involves numerous tasks, from marketing and showings to negotiations and paperwork. Real estate agents streamline the process, saving sellers time and energy. FSBO sellers often underestimate the effort required, leading to stress and potential oversights.
In conclusion, while it’s technically possible to sell a home without a real estate agent, the complexities and potential pitfalls involved make it a less advisable route for most sellers. The guidance of a professional real estate agent not only enhances the chances of a successful and timely sale but also provides peace of mind throughout the intricate process.
What's the difference between Real Estate Agents, a Broker, a Lender, the Title Company and Underwriting?
As you begin the process of buying or selling a house, there are many key players who you will interact with. Understanding the roles of real estate agents, brokers, mortgage lenders, title companies, and the underwriting process is essential for a seamless property transaction.
The primary distinction lies between real estate agents and brokers, with agents completing requisite licensing courses to work in the industry, often under the supervision of licensed brokers. Brokers, having advanced qualifications and experience, can operate their own firms and oversee the work of other agents, taking on a more supervisory role. Every real estate agent has to operated under a broker, such as Keller Williams, W and Partners, Remax and more.
Beyond agents and brokers, the involvement of a mortgage lender is pivotal in the home-buying process. Mortgage lenders, whether financial institutions or individuals, provide tailored loans to potential homebuyers. This financial collaboration involves a crucial step known as underwriting, where the lender evaluates the buyer’s creditworthiness, financial history, and other relevant factors to determine loan details.
Moreover, a title company plays a vital role in real estate transactions. It ensures the property’s title is clear, conducting thorough searches to identify any potential issues or claims. This step is essential to guarantee a smooth transfer of ownership and secure the buyer’s investment.
In essence, these players, including agents, brokers, lenders, underwriting and title companies, work collaboratively to navigate the complexities of real estate transactions. The buyer’s journey involves seamless coordination between these professionals, ensuring not only the discovery of the right property but also securing the necessary financing and legal aspects for a successful home purchase.
What Is the Difference Between a Buyer's Agent and a Seller's Agent?
In real estate, the roles of a buyer’s agent and a seller’s agent are distinct, each focusing on the interests of their respective clients in the property transaction. Both are considered real estate agents, and one or both might even be Certified Realtors.
A buyer’s agent represents individuals or entities looking to purchase real estate. They assist buyers in various aspects of the home-buying process, including property searches, arranging viewings, and negotiating the best possible deal on behalf of the buyer. Buyer’s agents work to understand the specific needs and preferences of their clients, aiming to find a property that aligns with their criteria and budget.
On the other hand, a seller’s agent (or listing agent) represents individuals or entities looking to sell their property. Their primary responsibility is to market and sell the property for the highest possible price within a reasonable timeframe. Seller’s agents assist in setting an appropriate listing price, marketing the property, coordinating showings, and negotiating with potential buyers. They act as advocates for the sellers throughout the selling process.
While both buyer’s and seller’s agents share a commitment to their clients, their responsibilities and focus differ based on whether they are working to secure a property for a buyer or sell a property for an owner. It’s essential for individuals entering the real estate market to understand these distinctions and choose an agent aligned with their specific needs and goals.
How to find real estate agents Near Me
Are you beginning to embark on the quest to find the perfect real estate agent to help buy or sell your home? Start by seeking recommendations from friends and family, or by doing your own research online. Look for agents with solid reviews and a proven track record in your target area.
As you begin to explore some options, first consider a free consultation with Claudia. With over 25 years of experience, she has garnered a stellar reputation for her dedication to her clients’ success. Attend one of Claudia’s open houses to meet her in person and experience firsthand her genuine expertise and care. Her commitment to excellence makes her a standout choice. Contact Claudia for a real estate experience that goes beyond the ordinary.
